Skydance-Paramount Merger: Corporate Hierarchy Made Official

UPDATE MONDAY AM:  Skydance Media this morning announced the future executive team for its pending merger with Paramount Global, which will close August 7.

“The new executive team will be comprised of highly accomplished industry veterans, who bring with them complementary capabilities and strategic insight spanning entertainment, technology, business operations, and the world at large to drive Paramount’s transformation for the future,” reads the release.

The company is expected to be structured into three primary business segments: 1) Studios; 2) Direct-to-Consumer (DTC); and 3) TV Media.

The following is the expected full executive leadership team; most of these we had right last night, including their roles, which we’re further specifying below:

Andrew Warren will continue as Interim CFO.

As we previously reported, Paramount Global co-CEO Chris McCarthy is departing, and made that announcement ahead of the $8 billion-plus merger. Paramount Global co-CEO Brian Robbins, who presided over Nickelodeon and the Paramount Pictures studio, is also exiting, that news having long been rumored.

David Ellison, the future Chairman and CEO of Paramount, commented:

“I’m thrilled to introduce our new executive leadership team — backed by deep industry experience, proven track records, and a shared commitment to excellence, this world-class team is uniquely equipped to rise to the occasion and deliver on our bold vision for a new Paramount. Each member was chosen to align with our goals and with the intention to drive transformation. Together, we will foster an environment where creative and technical talent collaborate seamlessly, marrying leading technologies with powerful storytelling and artistic vision to unlock Paramount’s full potential and help shape the future of our industry.”

Some of the duty specifications for the execs include Shell, who’ll oversee the day-to-day operations of the conglomerate’s media businesses.

RedBird veteran Gordon, as we reported Sunday, is Chief Strategist and COO. He’ll lead corporate strategy and operations, focused on translating strategy into operational plans that drive performance, scalability, efficiency, and long-term growth across the company.

Cheeks in his position as Chair of TV Media at Paramount will preside over the broadcast and cable TV businesses. Under his purview is CBS-branded properties — such as CBS Television Network, CBS News & Stations, CBS Sports and CBS Studios — as well as BET Studios, Nickelodeon TV Studios, See It Now Studios and Paramount Media Networks, the latter home to iconic brands like MTV, Comedy Central, Nickelodeon and BET.

Goldberg, as we told you last night, is gaining oversight of not just feature production with Greenstein, but also TV production with the added title of Chair of Paramount Television Studio for Paramount. She will have oversight of production, marketing, distribution and strategic planning, and will also lead Paramount Pictures, Nickelodeon Films, and Paramount Television Studios. 

At Skydance as President of Production, Goldberg oversaw such feature projects like The Adam Project, The Tomorrow War, The Old Guard, The Family Plan and The Gorge, while also shepherding Paramount co-productions including the Mission: Impossible franchise (Dead Reckoning, Fallout, Rogue Nation, Ghost Protocol) as well as World War Z, True Grit and others. Prior to Skydance, Goldberg was at Village Roadshow Pictures as President of Production, where she worked on and executive produced movies like I Am Legend and Happy Feet. Before Village Roadshow, she was VP Production at Baltimore/Spring Creek Pictures.

Former Sony Pictures President Josh Greenstein, in addition to being Co-Chair of Paramount Pictures with Goldberg, gets the title of Vice Chair of Platforms for Paramount. He’ll strategize long-term vision for the conglom while overseeing having production, marketing, distribution and strategic planning, and will lead Paramount Pictures and Nickelodeon Films under his domain. As Vice Chair of Platforms, he’ll collaborate on all platform strategy, leveraging his creative, distribution and marketing background. The new job, as we previously told you, returns him to the Melrose lot: Prior to his run at Sony in 2014, Greenstein was the head of marketing at Paramount. Hence he has legacy knowledge of the studio’s popular IP including the Mission: Impossible, Transformers and Teenage Mutant Ninja Turtles movies.

McKinnon will oversee all legal, regulatory and compliance matters across the company’s global operations, providing strategic legal guidance on transactions, intellectual property, litigation, employment and corporate matters. She’s coming from Skydance, where she’s been the General Counsel. Previously, McKinnon was SVP, Deputy General Counsel for Vice Media, where she oversaw legal for all of Vice’s strategic projects. The exec started her law career at Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York City.

Holland, as Chair of Direct-to-Consumer for Paramount, will lead ops for Paramount+ and Pluto TV.

Sterner, who spent more than 15 years at Amazon, most recently as the HR Head for Global Media and Entertainment where he had Prime Video, Amazon Studios and Amazon Music under his management, will be “fostering a culture that fuels innovation and long-term business success” in the new Paramount-Skydance, per Monday’s release.

As Chief Communications Officer of Paramount, Zuckerman will spearhead global communications strategy and serve as the company’s chief spokesperson as well as advisor to the Chairman and CEO on external relations. She’ll also be responsible for corporate messaging as well as executive, crisis and internal communications to promote and protect the company and its culture across all platforms and stakeholders. Zuckerman will also lead Paramount’s Corporate Social Responsibility division, guiding the company’s advocacy initiatives and philanthropic priorities.

PREVIOUSLY, SUNDAY PM: Sources tell us that Skydance-Paramount is going to make official their corporate leadership team Monday morning.

The combined company’s structure is being announced early Monday ahead of the August 7 merger date. Here’s what we’re hearing is going to go down per sources in the $8 billion-plus transaction. Some of this has already been out there — just take it all with an asterisk.

As already indicated, Skydance founder David Ellison will be CEO of the new entertainment conglomerate with former NBCUniversal CEO Jeff Shell being tapped as President.

RedBird Capital Partner Andy Gordon is coming over as Chief Strategist and COO. The Gerry Cardinale-founded RedBird Capital backed the Skydance-Paramount deal. Gordon helped source RedBird’s investments in Skydance with the Ellison family, Talent Systems and Hidden Pigeon. He previously had a 35-year career at Goldman Sachs, where he was most recently the global chairman of Investment Banking Services, head of the Investment Bank’s West Region, global head of media and telecommunications for the Technology, Media and Telecom Group and co-head of the One Goldman Sachs family office initiative in the Americas.

Cindy Holland, former Netflix Head of U.S. Scripted TV and former Global CEO of Elisabeth Murdoch and Jane Featherstone‘s Sister, will be the head of DTC, Paramount+ and Pluto. Sources tell us she’ll report directly to Ellison.

We hear that Skydance Chief Creative Officer Dana Goldberg and former Sony Pictures Motion Pictures President Josh Greenstein will be co-heads of the film studio. Greenstein will also be Vice Chair of DTC, while Goldberg will add TV production under her domain. As one person with knowledge of the deal exclaimed about Greenstein: “To have someone who knows about creative and marketing in this day and age is a unicorn.”

As expected, Paramount Global co-CEO George Cheeks will be one of the old Paramount execs to segue over (co-CEO Chris McCarthy having already signaled his exit, and co-CEO Brian Robbins expected). Cheeks will continue to oversee CBS and would add McCarthy’s cable network portfolio. Currently Cheeks has CBS Entertainment, CBS News and Stations, CBS Sports under his oversight, as well as CBS Studios — the largest TV production unit within Paramount-Skydance, and Paramount’s syndication business, CBS Media Ventures.

Additionally we hear Jim Sterner, the current head of Amazon Entertainment HR, is coming over to lead Skydance and Paramount HR.

And former Principal Communications co-founder Melissa Zuckerman will be the new Head of Corp Comm for Skydance-Paramount, the vet having already segued over to the Ellison production company.